Nationwide: ABS markets need more than warm words
"There does seem to be this sense in which covered bonds are innocent until proven guilty"
At first glance, the European version of Basel III's liquidity coverage ratio (LCR) makes happy reading for bank treasury departments with covered bond programmes. The rules upgraded covered bonds to level 1 assets, meaning they can comprise up to 70% of a bank's liquid asset buffer, which should guarantee healthy demand.
Andy Townsend, group treasurer at Nationwide in Swindon, however, is conflicted. As a covered bond issuer, it's great news as these products are the building society's cheapest
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net